Global Digital Asset Management Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
16 Aug, 2021
The digital asset management (DAM) market consists of sales of digital asset management solutions by entities (organizations, sole traders, and partnerships) that improve productivity and efficiency by removing the need to request assets each time. Digital asset management is a software-based solution that allows organizations to store, retrieve, and use digital assets quickly. Digital assets are files like videos, music, photos, documents, and other media containing the rights to use them. DAM is an organization's content sharing and storage solution.
Global Digital Asset Management Market Size And Drivers:
The global digital asset management market is expected to grow from $3.60 billion in 2020 to $4.30 billion in 2021 at a compound annual growth rate (CAGR) of 19.4%. The change in growth trend of the DAM market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The DAM market is expected to reach $7.96 billion in 2025 at a CAGR of 16.6% The increasing prevalence of cloud-based digital asset management (DAM) solutions is projected to propel the growth of the digital asset management market.
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Trends In The Global Digital Asset Management Market
Technological advancement is a key trend shaping the digital asset management (DAM) market. Major companies operating in the digital asset management sector are focused on developing technologically advanced solutions for DAM. For instance, in July 2020, Sitecore, a US-based software company launched version 3.4 of its Sitecore Content Hub solution, which includes new and improved workflow and third-party integration capabilities. Sitecore Content Hub version 3.4 adds artificial intelligence (AI) and video technologies to its Digital Asset Management platform, allowing for the automated production of metadata and transcripts for video, as well as time and range-based annotation, cropping, and subtitles.
Global Digital Asset Management Market Segments:
The global digital asset management market is further segmented based on type, deployment type, enterprise size, application, end user and geography.
By Type: Solution, Services
By Deployment Type: On-Premises, Cloud
By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
By Application: Sales, Marketing, IT, Photography, Graphics And Designing, Others
By End User: Media And Entertainment, BFSI, Retail, Healthcare, Automotive And Manufacturing, Others
By Geography: The global digital asset management market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the digital asset management market in 2020.
Read More On The Report For The Global Digital Asset Management Market At:https://www.thebusinessresearchcompany.com/report/digital-asset-management-global-market-report
Digital Asset Management Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides digital asset management market overviews, analyzes and forecasts market size and growth for the global digital asset management market, digital asset management market share, digital asset management market players, digital asset management market segments and geographies, digital asset management market’s leading competitors’ revenues, profiles and market shares. The digital asset management market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.